The European Stability Mechanism (ESM)

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European Stability Mechanism

Eurozone govts agree on cheap loans for countries hit by pandemic, sources say

Eurozone finance ministers agreed on Friday to offer cheap credit lines that can be tapped until the end of 2022 by countries hit by the coronavirus pandemic, two European officials said.

"All agreed. The program can be used until the end of 2022," one of the officials said.

Pressure on hardline Hague to reach Covid-19 rescue package, Italy warns of possible breakup

European Union governments piled pressure on the Netherlands on Thursday to unblock half-a-trillion euros of economic support to fight the coronavirus ahead of a meeting of finance ministers, with Italy saying the very future of the EU was at stake.